The new stadium for the Indianapolis Colts will be called Lucas Oil Stadium, the team confirmed Wednesday afternoon.Lucas Oil will pay $121.5 million over 20 years for the naming rights for the downtown stadium, which is expected to be ready for the 2008 NFL season.
Lucas Oil is a California company that provides motor oil to the auto racing industry. It was founded by Forrest Lucas, originally from Brownstown, less than 20 years ago. Lucas Oil has a production plant in Corydon.At a press conference at the Colts training complex on the city's northwest side, Forrest Lucas thanked the team for the opportunity to put his company's name on the stadium.Lucas Oil has had some sponsorship deals in racing circles, including an Indy car racing team. He said that at the time, he felt the Indy car deal was "just about as big as you could get.""Boy, I had no idea what we could really do," Lucas said. Lucas had fun with some of the misgivings that some Indiana residents expressed through the news media in recent days about the Lucas Oil Stadium name. News of the deal leaked to the media earlier this week."I know a lot of people are saying, 'Lucas Oil -- that doesn't roll off your mouth very good. Lucas Oil Stadium?' But if you do it a few times, well ...," Lucas said, drawing laughs from people at the press conference. Colts coach Tony Dungy (left) and team owner Jim Irsay (right) stand for pictures with Lucas Oil owner Forrest Lucas and his wife, Charlotte. Watch 6News at 5 and 6 p.m. and revisit this page later for updates.